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HomeBitcoinSpot Bitcoin ETFs see highest flow day in over 5 weeks

Spot Bitcoin ETFs see highest flow day in over 5 weeks

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The BlackRock and Fidelity Bitcoin ETFs led the $310 million in inflows, while Grayscale recorded a rare inflow day at $23 million.

United States-based spot Bitcoin exchange-traded funds (ETFs) recorded over $310 million in inflows on July 12, marking their best-performing day since June 5.

BlackRock’s iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund accounted for most of the flows at $120 million and $115.1 million, respectively, according to Farside Investors data.

The Bitwise Bitcoin ETF came in third at $28.4 million, while the Grayscale Bitcoin Trust recorded another rare inflow day at $23 million.

The VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF also received $6 million and $4 million in inflows, respectively.

Meanwhile, the Hashdex, Franklin Templeton, Valkyrie and WisdomTree-issued spot Bitcoin 

BTC

$62,604

 ETFs failed to register inflows on the day.

It was the largest flow day since June 5, when the spot Bitcoin ETF issuers tallied $488.1 million of inflows.

Friday’s tally means the spot Bitcoin ETF issuers took in a combined $1.04 billion since Monday, July 8.

The spot Bitcoin ETFs have now mustered $15.8 billion in net inflows since the products launched a little over six months ago.

That tally includes over $18.6 billion in outflows from Grayscale’s flagship Bitcoin product, which was converted into spot form following approval from the US Securities and Exchange Commission (SEC) in January.

The Hashdex Bitcoin ETF is the only other spot Bitcoin ETF with a net outflow, though it is relatively small at $2 million.

Bitcoin has increased 1.1% over the last 24 hours and is currently trading at $57,858, CoinGecko data shows.

However, the cryptocurrency is down nearly 15% in the last month and 21% down from its all-time high.

Some spot Bitcoin ETF issuers are now preparing to issue spot Ether 

ETH

$3,336

 ETFs, which could launch as early as July 15, according to Nate Geraci, president of The ETF Store.

These issuers are now waiting for the SEC to sign off on their amended S-1 registration statements after receiving a first round of feedback in late June.

Source:- COINTELEGRAPH

Ariana Raven
Ariana Raven
🌟 Ariana Raven - Passionate Crypto & Blockchain Marketing Specialist with 3 years of experience in driving impactful marketing campaigns across the digital landscape! 🚀

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